TSXV: ZON
HALIFAX, NS, Nov. 24, 2020 /CNW/ - Zonte has completed a total
of seven drill holes, including five at Dunns Mountain and two at
the K7 target. The K7 holes are being assayed and will be released
once the data has been received and interpreted.
At Dunns Mountain the holes were designed to test various
aspects from the geophysical and geochemical dataset. In summary,
drilling intersected a significant hydrothermal system, with copper
mineralization being intersected in most holes and a 1.75m interval with 268.8 g/t silver. A summary
of the drill data is below with the drill hole coordinate table at
the bottom of the release.
Drill Hole
|
From (m)
|
To (m)
|
Interval
(m)
|
Cu (%)
|
Ag (g/t)
|
Au (g/t)
|
CH20-06
|
76.50
|
76.82
|
0.32
|
0.91
|
17.1
|
0.07
|
And
|
80.20
|
80.85
|
0.65
|
0.24
|
2.5
|
tr
|
And
|
81.72
|
82.18
|
0.46
|
0.33
|
3.8
|
0.02
|
And
|
168.78
|
169.32
|
0.54
|
0.45
|
12.7
|
0.02
|
|
|
|
|
|
|
|
CH20-07
|
9.72
|
13.00
|
3.28
|
0.08
|
1.2
|
0
|
|
|
|
|
|
|
|
CH20-08
|
9.72
|
13.00
|
3.28
|
0.08
|
1.2
|
0
|
And
|
30.75
|
31.00
|
0.25
|
0.11
|
1.3
|
0
|
And
|
76.50
|
81.10
|
4.6
|
0.17
|
0.8
|
0
|
Including
|
78.00
|
80.40
|
2.40
|
0.30
|
1.4
|
0
|
And
|
96.35
|
100.30
|
3.95
|
0.24
|
1.1
|
tr
|
Including
|
96.35
|
97.85
|
1.5
|
0.49
|
2.5
|
tr
|
And
|
477.8
|
478.3
|
0.5
|
0.23
|
2.5
|
tr
|
|
|
|
|
|
|
|
CH20-10
|
119.00
|
120.75
|
1.75
|
0.02
|
268.6*
|
0
|
Notes; *the 268.6 g/t
silver assay is the average of the initial assay and subsequent
re-assay which includes 251.1 and 286.0 g/t,
respectively.
|
Drill holes CH-20-06 and 07 were collared to test under the
high-grade interval discovered in CH-19-04 which intersected
0.43m of 14% copper, 15.0 g/t gold
and 352 g/t silver within a wider mineralized zone (see
June 3, 2019 press release). CH-20-06
intersected a number of mineralized intervals between 76 and
81m showing copper, gold and silver
mineralization, with the highest copper recorded between 76.5 and
76.82m (0.32m) returning 0.91% copper, 17.1 g/t silver
and 0.73 g/t gold. The interval between 168.73 and 169.32m (0.54m)
returned 0.45% copper, 12.7 g/t silver and 0.15 g/t Au. CH-20-07
was collared to test the possible depth extensions of the
mineralization in CH-20-06 and possibly any extension of the
high-grade in CH-19-04. This hole, however, deviated significantly
off the collar and missed the intended target. This hole did
intersect several narrow intervals of anomalous copper. Neither
drill hole appears to have conclusively intersected a zone of
mineralization similar to the high-grade interval in CH-19-04,
hence the orientation of any possible high-grade shoot remains
unexplained.
CH-20-08 was drilled to test the core of the gravity anomaly
sitting over the Dunns Mountain target, which sits under the
magnetic anomaly on the eastern side of Dunns. The drill hole
intersected several mineralized intervals above the core of the
gravity anomaly including between 78.0-80.4m (2.40m) of
0.30% copper and 1.4 g/t silver and trace gold and between
96.35-97.50m (1.50m) of 0.49% copper, 2.5 g/t silver and trace
gold. The core of the gravity anomaly was identified as a less
fractured more competent rock containing classic IOCG
alteration.
CH-20-09 was set up north of the gravity core and drilled. This
hole did not intersect any notable mineralization, however,
hydrothermal alteration was significant. This is the north
northerly hole and this portion of the anomaly needs further
exploration.
CH-20-10 was drilled on the southern side of the magnetic and
gravity anomalies, coincident with an Induced Polarization anomaly.
The drill hole was successful in intersecting a hydrothermal system
characterized by local and widely spaced disseminated and stringer
copper mineralization through several intervals including the top
60m and between 118 and 140m. Select samples through these intervals
showed anomalous copper, with a 1.75m
interval between 119 and 120.75m
returning 268.6 g/t silver with trace copper. The high-grade silver
appears to be associated with magnetite, which is similar to the
high-grade silver intersected in CH-20-03 (0.12m of 2054 g/t silver) (see press release
dated June 18, 2020). This hole shows
potential on the southern side of the coincident magnetic and
gravity anomalies and the area will be followed up with more
exploration.
The Company is pleased to announce it has contracted and
completed a high-resolution magnetic airborne survey over three
large areas of the mineral concession. The airborne survey has
identified numerous areas of interest and the Company has started a
systematic ground checking program of the anomalies. Additional
information will be released as the targets are examined and
determined to warrant further exploration. In addition, the Company
has initiated a large soil sampling program which will cover
numerous targets to assist in drilling.
Terry Christopher, President and
CEO comments "Drilling continues to intersect copper mineralization
at Dunns. Drilling on the south end of the target shows a large
area between CH-19-09 and CH-20-10 where drilling intersected
either wide zones of localized or widely spaced fracture controlled
mineralization, including high-grade silver in CH-20-10 where 268.6
g/t over 1.75m was recorded. This
area will be followed up with drilling and a recently completed
soil sampling program there will assist the drill program. CH-20-10
is just 350m north of the Big K
target and both targets appear to sit in a common structural
corridor. The Big K target, which is defined by large coincident
magnetic and gravity anomalies and surface mineralization, is being
permitted for drilling. The company has carried out a large soil
sampling program over the K6, K7, K8 and Big K targets to help
define drill testing locations. In addition, the airborne magnetic
survey has identified numerous anomalies and field checking each to
determine which ones are IOCG targets for further work is
ongoing".
Drill hole coordinate table.
Drill Hole
|
Easting
|
Northing
|
Azimuth
|
dip
|
Elevation
(m)
|
Depth (m)
|
CH-20-06
|
668454
|
5303579
|
134
|
-47
|
304
|
280
|
CH-20-07
|
668431
|
5303600
|
135.1
|
-50
|
295
|
300
|
CH-20-08
|
668307
|
5303518
|
161.1
|
-66
|
285
|
730
|
CH-20-09
|
668087
|
5303572
|
125.1
|
-52
|
256
|
290
|
CH-20-10
|
668674
|
5302745
|
331.1
|
-51
|
220
|
300
|
The Company acknowledges the Province of Newfoundland and Labrador for its financial support through the
junior exploration assistance program for exploration work
performed on the Cross Hills Property.
Qualified Person
Dean Fraser, P.Geo. is the qualified
person as defined by NI 43-101 and has reviewed and approved the
contents and technical disclosures in this press release.
Rock and Protocol and Drill Sampling Protocol
All drill core was logged and prepared for shipment on site and
shipped to Eastern Analytical in Springdale, NL under chain of custody.
QA/QC included the systematic insertion of certified
standards and blanks. Samples were described, tagged and sealed
prior to being transported to the lab where the samples were
analyzed for the ICP-34 package (34 element 4 acid leach, ICP-OES
finish) and the Fire Assay (30g) with AA finish. Eastern Analytical
also provides its own internal QA/QC protocol of blanks, duplicates
and standards in each work order, which is supplied to the Zonte
with the rock sample analysis.
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper.
The Company owns 100% of the McConnells Jest project, in the
Tintina Gold Belt, located in the Yukon
Territory, the Wings Point
project in the new Central Newfoundland Gold Belt, and has an
option to earn 100% in the Cross Hills IOCG project located
in Newfoundland. In Colombia the company has a 25% carried
interest in Project X where historic drilling interested
significant gold mineralization and the Company and partner have an
application over open areas sitting on top of the open pit outline
of the Gramalote Deposit in Colombia, which is held by AngloGold Ashanti
(NYSE:AU) and B2Gold (TSX:BTO, NYSE:BTG). The title issuance is
being contested by the state governing the application and the
Company has started legal action to protect its rights.
Forward-Looking Information
This news release contains forward-looking statements which include
statements regarding the Corporation's future plans, as well as
statements regarding financial and business prospects and the
Corporation's future plans, objectives or economic performance and
financial outlooks. The Corporation believes that the expectations
reflected in this news release are reasonable but actual results
may be affected by a variety of variables and may be materially
different from the results or events predicted in the
forward-looking statements. Readers are therefore cautioned not to
place undue reliance on these forward-looking statements. In
evaluating forward-looking statements readers should consider the
risk factors which could cause actual results or events to differ
materially from those indicated by such forward-looking statements.
These forward-looking statements are made as of the date hereof,
and unless otherwise required by applicable securities laws, the
Corporation does not intend nor does it undertake any obligation to
update or revise any forward-looking statements. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy of accuracy of this release.
SOURCE Zonte Metals Inc.